Australia's Dollar Falls to Three-Week Low

The Australian dollar fell to the lowest in three weeks as prices of commodities the nation exports declined and the U.S. currency rallied in New York.

The local dollar weakened against 14 of the 16 most-traded currencies as gold, the nation's third most-valuable raw material export after coal and iron ore, led a slump in metals. Crude oil, Australia's fourth-largest overseas shipment, dropped to a 12- week low. The U.S. dollar rose the most versus the euro in almost four weeks after a Conference Board report showed consumer confidence increased in July.

Australia's currency fell 0.8 percent to 95 U.S. cents at 10:50 a.m. in Sydney, from 95.76 cents late in Asia yesterday. It touched 94.99 cents, the lowest since July 9. The currency may weaken to 94.80 cents today, said Body. The Aussie, as the currency is known, bought 102.69 yen, from 103.12 yen yesterday.

The Aussie dropped for a second day against the dollar after the UBS Constant Maturity Index of 26 raw materials slid 0.9 percent in New York to its lowest reading since May 2.

The U.S. dollar strengthened yesterday after an increase in consumer confidence. Merrill Lynch & Co.'s plan to sell $8.5 billion of stock and liquidate bonds raised speculation that Wall Street has seen the worst of the credit crisis.

Australia's currency has fallen 0.7 percent since the start of this week and 3.4 percent from a 25-year high of 98.49 cents on July 16 after National Australia Bank Ltd. and Australia & New Zealand Banking Group Ltd. reported they were setting aside cash for bad loans.

Australia is seeing ``its own version of the credit crunch come through,'' said Richard Franulovich, a senior currency strategist at Westpac Banking Corp. in New York. ``The pullback was overdue given all the negatives that had been accumulating over the last few days.'' It may weaken to 92 cents in three months, he said.

Australian Dollar Falls
The Australian dollar dropped to its lowest level in four months against the yen as a slide in U.S. and Asian stocks prompted investors to pare holdings of higher- yielding investments funded in Japan.Published on 2008-08-31

Australian, NZ Dollars Are Poised for Monthly Decline
The Australian dollar fell, headed for the biggest monthly loss in 22 years, on speculation the nation's interest-rate advantage over the U.S. will narrow. New Zealand's dollar headed for a third monthly loss. Published on 2008-08-28

Australian Dollar Gains
The Australian dollar rose after a government report showed business investment increased almost three times as much as economists estimated in the second quarter. Published on 2008-08-28

Australian, N.Z. Dollars Rise
The Australian dollar climbed from its weakest level in 11 months and the New Zealand dollar rose from near a two-week low as stocks advanced, giving investors more confidence to buy higher-yielding assets.
Published on 2008-08-26

N.Z., Australian Dollars Headed for Weekly Gain
The New Zealand and Australian dollars headed for a weekly gain on rising commodity prices and prospects for a prolonged U.S. economic slowdown that may prompt the Federal Reserve to delay raising interest rates.Published on 2008-08-21

Australian, N.Z. Dollars Fall
The Australian and New Zealand dollars fell against the yen on speculation global credit-market losses will temper growth in the South Pacific economies, backing the cases for their central banks to cut interest rates. Published on 2008-08-19

Australian Dollar Declines
The Australian dollar fell, taking its loss from a 25-year high reached a month ago to 12 percent, as prices of commodities slid and traders bet on lower interest rates.
Published on 2008-08-15

Australian, N.Z. Dollars Fall
Australia's dollar fell to a four- month low and New Zealand's dollar dropped to the weakest in almost two years against the yen as commodity prices declined and a Japanese government report showed the economy contracted. Published on 2008-08-13

Australian Dollar Extends Loss
The Australian dollar fell for a ninth day, its longest losing streak since 1980, on speculation the Reserve Bank of Australia will reduce borrowing costs from a 12- year high as a drop in consumer spending cools inflation.
Published on 2008-08-07

Australian Dollar Trades Near Four-Month Low
The Australian dollar traded near the lowest in four months as the yield advantage of the nation's two- year government bonds over U.S. Treasuries shrank to the least this year.Published on 2008-08-06

Australian Dollar Falls on Rate-Cut Signal
The Australian dollar fell to a three- month low after Reserve Bank of Australia Governor Glenn Stevens said inflation may slow, allowing for a ``less restrictive stance'' on interest rates. The New Zealand dollar also declined. Published on 2008-08-05

Australian, N.Z. Dollars Fall
The Australian dollar fell to near its lowest in more than two weeks and the New Zealand dollar traded close to a six-month low on concern global credit-market losses will hinder growth in the South Pacific economies.
Published on 2008-07-28

Australian Dollar Falls
The Australian dollar traded near a two-week low after Australia & New Zealand Banking Group Ltd. said it set aside additional funds for bad debts linked to U.S. credit-market losses. Published on 2008-07-28

Australian Dollar Falls on Yield Advantage
The Australian dollar fell the most in more than a month as the yield advantage of the nation's two- year government bonds over similar-maturity U.S. debt narrowed to the least since January. The New Zealand dollar declined. Published on 2008-07-23

Australian Dollar Advances to 8-Month High
The Australian dollar rose to an eight-month high against the yen on speculation the nation will retain its interest-rate advantage over the U.S. and Japan. Published on 2008-07-20

Australian, N.Z. Dollar Fall for Third Day
The Australian and New Zealand dollars fell for a third day as prices of commodities the nations export declined, diminishing the outlook for the South Pacific economies. Published on 2008-07-17

Australian Dollar Advances
The Australian dollar climbed to a 25-year high on speculation the nations' assets will lure investors as losses at U.S. financial institutions deepen. Published on 2008-07-14

Australian Dollar Rises
The Australian dollar gained against the U.S. currency and bonds fell after a government report showed jobs rebounded in June by three times the amount forecast by economists.
Published on 2008-07-09

Australian Dollar Advance Against Yen
The Australian dollar gained the most in five days against the yen as equities rose, spurring investors to buy higher-yielding assets funded in Japan. Published on 2008-07-08

Australian Dollar Trades Near 25-Year High
The Australian dollar traded near a 25-year high before a government report this week that is forecast by economists to show employment rebounded last month. Published on 2008-07-06

Australian Dollar Rises
The Australian dollar rose after retail sales climbed at the fastest pace in six months in May, prompting traders to add to bets the Reserve Bank of Australia will raise interest rates. New Zealand's dollar fell. Published on 2008-07-02

Australian Dollar Rises on Record Iron Ore
Australia's dollar rose to a seven- month high against the yen as Rio Tinto Group said China agreed to pay a record price for iron ore. The New Zealand dollar fell versus the U.S. dollar before a report on economic growth. Published on 2008-06-24

Australian Dollar Climbs
The Australian dollar rose as the price of commodities that the nations export increased, supporting the outlook for the economy. Published on 2008-06-22

Australia Dollar Falls
The Australian dollar fell to the lowest in almost a month after a government report showed the first drop in employment since October 2006, prompting traders to reduce bets on the central bank raising interest rates again. Published on 2008-06-11

Australian Dollar Rises
The Australian dollar rose and bonds fell after a government report showed the economy grew double the pace economists expected in the first quarter, adding to pressure on the central bank to raise interest rates. Published on 2008-06-03

Australia Dollar Reaches 6-Month High Vs Yen
The Australian dollar rose to a six- month high against the yen as a reduction in volatility encouraged investors to buy higher-yielding assets funded in the Japanese currency. Published on 2008-05-28

Australian Dollar Falls
The Australian dollar fell from near a 25-year high against the U.S. currency as the prices of commodities the nation exports dropped. Published on 2008-05-27

Australian Dollar Rises to 25-Year High
The Australian dollar gained to its highest since being allowed to trade freely in 1983 versus the U.S. dollar on speculation the nation's higher-yielding government bonds will draw investors and as commodities rose. Published on 2008-05-22

Australian Dollar Hits 24-year High
The Australian dollar rose to a 24-year high on Monday as rising commodity prices and a sell-off in the US dollar boosted the currency. Published on 2008-05-19

Australian Dollar Declines
The Australian dollar fell for a second day after a government report showed wage growth unexpectedly slowed last quarter, increasing concern economic growth is easing. Published on 2008-05-14

Australian Dollar Falls
The Australian dollar fell before a government report that economists said will show home-loan approvals declined for a second month in March, signaling two interest-rate increases this year are slowing the economy. Published on 2008-05-11

Australian Dollar Heads for Weekly Advance
The Australian dollar headed for a second weekly advance on speculation the central bank will signal it is concerned about inflation in a monetary policy statement today.Published on 2008-05-08

Australian Employment Rises 25,400
Australian employment rose in April for a record 18th month as mining companies such as BHP-Billiton Ltd. hired workers to meet Chinese demand for iron ore and coal. Published on 2008-05-07

Australian Dollar Gains
The Australian dollar rose as speculation the U.S. economy will avoid a recession bolstered prices for commodities that are key to the nations' export earnings.
Published on 2008-05-04

Australian Dollar Trades Near 2-Month High
The Australian dollar traded near a two-month high against the yen as rising commodity prices spurred investors to buy higher-yielding assets financed in Japan. Published on 2008-04-27

Australian Dollar Rises to 24-Year High
The Australian dollar climbed to the highest since 1984 after a government report showed CPI rose at the fastest annual rate in seven years, fueling speculation the central bank will resume raising interest rates. Published on 2008-04-23

Australian Dollar Rises as Prices Surge
The Australian dollar rose after a government report showed producer prices climbed by a record in the first quarter. The New Zealand dollar advanced as rising equities encouraged investors to buy higher-yielding assets.
Published on 2008-04-21

Australian Dollar Strengthen
The Australian dollar rose as commodity prices advanced and as concern eased that credit-market losses will spread. Published on 2008-04-08

Australian Dollar Falls on Data
The Australian dollar declined on speculation economic growth will slow, supporting the case for the central bank to cut interest rates.
Published on 2008-04-07

Australian, N.Z. Dollars Rise
The Australian and New Zealand dollars rose against the yen after Federal Reserve Chairman Ben S. Bernanke eased concern that the U.S. economic slowdown will deepen, bolstering demand for higher-yielding assets.
Published on 2008-04-03

Australian Dollar Falls
The Australian dollar fell as a decline in stocks prompted investors to sell higher-yielding assets funded with loans from Japan. Published on 2008-03-30

Australian Dollar Rise
The Australian dollar rose on speculation the Federal Reserve will lower its benchmark interest rate by 1 percentage point today, boosting the yield advantage on the nations' assets. Published on 2008-03-18

Australian Dollar Rises
The New Zealand and Australian dollars headed for the largest weekly advance since February as commodities rose and gains in U.S. and Asian stocks encouraged investors to resume purchases of higher-yielding assets. Published on 2008-03-13

Australian Dollar Declines
The Australian dollar fell from close to a three-month high on speculation its 3.5 percent gain the past month is excessive given concerns slowing global economic growth will damp demand for the nation's exports. Published on 2008-02-17

Australian Dollar Trades Near 3-Month High
The Australian dollar traded near the highest level in three months as traders bet the central bank will raise borrowing costs by a quarter percentage point at a meeting today. Published on 2008-02-04

Australia Dollar Fall on Global Growth Concerns
The Australian dollar headed for a weekly loss as concern that global growth will slow prompted traders to reduce holdings of higher-yielding assets bought with money borrowed in Japan.
Published on 2008-01-18

Aussi Holds Gains After Unemployment Rate Declines
The Australian dollar held gains after a government report showed the unemployment rate fell by more than economists expected in December, supporting bets the central bank will raise its benchmark interest rate this year. Published on 2008-01-17

Australian Dollar Rises to Eight-Week High
The Australian dollar rose to near an eight-week high after private reports signaled increasing inflationary pressures, adding to the case for the central bank to raise interest rates. Published on 2008-01-14

Australian dollar hits 23-year high against US
The Australian dollar reached its strongest level against the US dollar in nearly a quarter of a century on Monday, some commentators predicting it could reach parity in the coming months.Published on 2007-10-09